Tue Jan 27, 2015/Reuters * Commercial banks regularly halting naira trade * Banks insist they want transparent, open FX market * Plunging crude has pushed currency to record lows Wrapping up a monetary policy speech last week, Nigerian central bank governor Godwin Emefiele declared that the naira, which has crumpled […]

The Nigeria Deposit Insurance Corporation (NDIC) has taken over 21 Primary Mortgage Banks (PMBs) that fell short of the Central Bank of Nigeria (CBN) regulatory guidelines. NDIC Managing Director, Alhaji Umaru Ibrahim who disclosed this at a workshop on ‘Credit Underwriting Standards for NDIC Examiners’ held in Lagos, said available […]

The Bank of Industry has signed a Memorandum of Understanding with ten banks to provide loans at low-interest rate to the Small and Medium Enterprises sub-sector. According to the MoU, the 10 banks will provide loans for the SMEs certified by the BoI at an interest rate of the Monetary […]